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STR: Preliminary Mexico hotel results for week ending 28 March

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Note: To inform the industry during the COVID-19 pandemic, STR will temporarily publish weekly communication for Mexico based on preliminary data. This preliminary data represents a percentage of STR’s total sample for the region. Once monthly processing is complete, data points will likely appear different.

Mexico’s hotel industry showed its sharpest reaction yet in the face of the COVID-19 pandemic with deep year-over-year declines in the three key performance metrics during the week of 22-28 March 2020, according to preliminary data from STR.

In comparison with the week of 24-30 March 2019, Mexico hotels reported the following:

  • Occupancy: -81.3% to 12.3%
  • Average daily rate (ADR): -39.5 to MXN1,644.74
  • Revenue per available room (RevPAR): -88.7% to MXN201.65

Among data-sufficient markets within Mexico, two of the largest saw absolute occupancy fall into the single digits. Mexico City occupancy fell -88.7% to 8.2%, but ADR declines weren’t nearly as staggering (-8.9% to MXN2,292.69).  Similarly, Guadalajara saw an 83.9% drop in occupancy to 8.7% but a 7.7% decline in ADR to MXN1,492.99. 

Mexico’s second largest city—Monterrey—maintained the country’s highest absolute occupancy of 15.1%, down 79.4% from the same week last year.  ADR in Monterrey fell 20.1% to MXN1,234.58, and RevPAR fell 83.6% to MXN186.71.

Mexico’s largest beach destinations had been slower to see the extreme declines in occupancy, but that is no longer the case. 

Absolute occupancy in Los Cabos fell 93.4% to a shocking 4.3%.

The Mexican Caribbean market has not yet seen absolute occupancy fall to single digits, but it is close (-83.5% to 12.1%).